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Title company theft

Heard some rumbling about this a while ago, but it looks like it is official: The former owner of Title Pros used $250,000 of escrowed money for personal use.  Just makes you wonder how commonplace this is.

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3 Responses to Title company theft

  1. Joshua Williams March 1, 2010 at 12:26 am #

    This is far more commonplace than you might imagine. We are former title insurance auditors who deal with these type thefts all the time.

    • Matt Kastner March 1, 2010 at 12:35 am #

      I actually had something similar happen once myself. Had a receipt that earnest money was deposit on a deal, but after the buyer defaulted on their loan the title company had no record of the money. Made me quite paranoid about getting receipts.

      • Matt Kastner March 1, 2010 at 2:16 pm #

        Just went through some old files this morning to try to nail down which title company did this to me. Surprise, surprise… it was Title Pros.

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